Carvana (NYSE:CVNA) Shares Up 6.2% – What’s Next?

Carvana Co. (NYSE:CVNA)’s stock price shot up 6.2% during trading on Thursday . The stock traded as high as $227.57 and last traded at $227.39. 1,758,546 shares were traded during trading, a decline of 70% from the average session volume of 5,858,798 shares. The stock had previously closed at $214.04.

Analyst Upgrades and Downgrades

CVNA has been the subject of several research analyst reports. Wedbush raised their price objective on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Stephens reiterated an “overweight” rating and issued a $300.00 price target on shares of Carvana in a research report on Thursday, January 2nd. Jefferies Financial Group lifted their price objective on Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Robert W. Baird increased their target price on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and upped their price objective for the company from $195.00 to $277.00 in a research report on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and an average target price of $241.94.

Carvana Stock Down 0.6 %

The stock has a fifty day moving average price of $231.78 and a 200-day moving average price of $186.25. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The firm has a market cap of $47.88 billion, a PE ratio of 23,082.38 and a beta of 3.38.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the company earned $0.23 EPS. Carvana’s revenue was up 31.8% on a year-over-year basis. Research analysts expect that Carvana Co. will post 0.88 EPS for the current year.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the sale, the chief financial officer now owns 189,097 shares in the company, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $190.79, for a total value of $19,079,000.00. Following the completion of the transaction, the insider now directly owns 37,658,131 shares in the company, valued at approximately $7,184,794,813.49. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 651,908 shares of company stock valued at $142,079,285. Corporate insiders own 17.18% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently modified their holdings of CVNA. Commonwealth Equity Services LLC grew its stake in Carvana by 5.7% in the second quarter. Commonwealth Equity Services LLC now owns 4,976 shares of the company’s stock worth $641,000 after purchasing an additional 270 shares in the last quarter. American Century Companies Inc. grew its position in shares of Carvana by 2.6% in the 2nd quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock worth $1,205,000 after acquiring an additional 241 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Carvana by 155.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 23,278 shares of the company’s stock valued at $2,996,000 after acquiring an additional 14,174 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Carvana by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 33,805 shares of the company’s stock worth $4,351,000 after purchasing an additional 1,136 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Carvana by 20.2% in the second quarter. Dimensional Fund Advisors LP now owns 353,664 shares of the company’s stock worth $45,556,000 after purchasing an additional 59,482 shares during the period. Institutional investors own 56.71% of the company’s stock.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.